Category: Economy and Markets
ADB to take 8.5-pct stake in JKH via USD80Mn investment
John Keells Holdings PLC (JKH) yesterday announced the Asian Development Bank (ADB) will be taking up a 8.5 percent stake via a private placement with an investment of US 80 million dollars via two phases. JKH said its Board of Directors resolved to raise funds through a private placement for a maximum cumulative amount of […]
‘s headline inflation increased to 8.3-pct in October
Headline inflation, as measured by the year-on-year (Y-o-Y) change in the National Consumer Price Index (NCPI, 2013=100)1, increased to 8.3 percent in October 2021 from 6.2 percent in September 2021 driven by monthly increases of prices of items in both Food and Non-food categories. Meanwhile, Food inflation (Y-o-Y) increased to 11.7 percent in October 2021 […]
Teejay Lanka achieves 81-pct emission reduction from sludge disposal
Invests Rs 90 million in Sri Lanka’s largest steam-powered paddle dryer Reduces GHG emissions by 2,326 tCO2e in one year Sri Lanka’s largest textile manufacturer Teejay Lanka PLC has announced the achievement of an 81 per cent reduction in Greenhouse Gas (GHG) emissions from the disposal of sludge waste, after one year of sustained operation […]
Sarvodaya Development Finance and Mitra Innovation work to build digital capabilities
Noting the potential of digitisation as a method of transforming ethical financing, Sarvodaya Development Finance (SDF) partnered with Mitra Innovation to connect the village of Kethsirigama to a number of digital platforms, thereby enhancing their ability to conduct business and achieve economic growth. The partnership with Mitra Innovation will revolve around providing access to comprehensive […]
Wartime organic farming lessons for peacetime
By Jekhan Aruliah There is recent precedent in Sri Lanka for suddenly “going organic”. The Sri Lankan Civil War saw years of economic blockades and embargoes in the North. Some items were totally banned, others were provided in restricted quantities. From ladies’ sanitary pads to batteries to petrol and cement, chemical fertilisers and pesticides many […]
Sri Lanka@100 opens new application round for advisory services
Sri Lanka@100, a private sector-led business development platform supported by the United States Agency for International Development (USAID), announces its third round of applications for mid-market companies looking for business advisory services to accelerate revenue growth, optimize internal operations, access new markets, and attract smart capital. Mid-market firms registered as companies in Sri Lanka with […]
Sri Lanka records highest-ever export figure in any October
Sri Lanka’s merchandise exports increased by 35.9% to US$ 1,160.62 Million in October 2021 compared to October 2020 as per the data released by the Sri Lanka Customs. Exports maintained above one billion for the fifth time this year. “This is the highest-ever merchandise export figure in any October in our history,” EDB Chairman, Suresh […]
CB Governor & Treasury Secretary outlines govt’s recovery plan at CA Sri Lanka Budget Seminar
The Institute of Chartered Accountants of Sri Lanka (CA Sri Lanka) organised the Annual Budget Seminar where top government officials and business leaders came onto a single platform to share their views on the government’s national budget for 2022. The keynote speech was delivered by Ajith Nivard Cabraal, Governor of Central Bank who outlined the […]
YTD 9M results exceed historical 12M earnings to record LKR 292bn by Sept: Softlogic Stockbrokers
Corporate earnings recorded a phenomenal increase up +98% YoY from LKR 190bn to LKR 377bn on a Trailing 12 months (TTM) basis despite the impact of the 2nd, 3rd and 4th wave of covid-19 during the reporting period, Softlogic Stockbrokers said. Releasing the Corporate Earnings Snapshot, Softlogic Research said that 3Q 2021 earnings have improved […]
ACL Cables PLC posts 189-pct profits at end of Q2
ACL Cables PLC, Sri Lanka’s No.1 cable manufacturer has posted a phenomenal 189% year-on-year profit increase at the end of its second quarter demonstrating strong financial performance and stability as a group. Noteworthy are the resounding strong figures despite challenging economic conditions seen locally as well as globally due to the Covid19 pandemic. ACL Cables […]
JICA extends support for Sri Lanka’s socio-economic development
The Japan International Cooperation Agency (JICA) is ready to support the socio-economic development needs of Sri Lanka, said JICA, Director General South Asia Mr. Sakamoto Takema. Mr. Sakamoto Takema made these remarks when he met President Gotabaya Rajapaksa at the President’s House in Colombo, today (16). President Rajapaksa recalled that when he was the Secretary […]
CSE revises index calculation methodology of All Share Price Index
The Board of Directors of the Colombo Stock Exchange (CSE) has approved the revision of the index calculation methodology of the All Share Price Index (ASPI) at a Board meeting held on 15 November 2021 to change its calculation basis from full Market Capitalization-weighting to free float-adjusted Market Capitalization-weighting with effect from January 2022 following […]